High-interest debt can be a significant barrier to financial independence. Prioritize paying off debts such as credit cards and personal loans, as they can quickly spiral out of control.
Consider strategies like the avalanche or snowball method to tackle your debt systematically. The sooner you eliminate high-interest debt, the more financial freedom you will experience, freeing up cash flow for savings and investments.
Stay motivated by celebrating small victories along the way, and remember that being debt-free is a critical step toward achieving your financial goals.
